CeYearwood

Bitcoin might not be out the woods yet.

BITSTAMP:BTCUSD   Bitcoin
The next 3 to 4 days are going to be interesting. There's both a bullish falling wedge and a symmetrical triangle with a potential formation of a bearish head and shoulder's pattern, and upward price momentum currently may be slowing approaching the 50% Fibonacci. If momentum dies before it crosses that 61.8 to 78.6 area or fails to clear that down-sloping trend-line, we could be in for some pain. While I am super-long term bullish on BTC/USD (and most crypto), if you missed your $11K buy you *might* be getting another shot if momentum dies and we have a failure to clear 61.8 to 78.6 area Fibonacci + down-sloping trend-line, and head down towards the neckline for a close below a freshly formed head and shoulder's formation. Maybe an even lower buy if we break that giant triangle formation to the bottom. I wouldn't automatically short the pair, but if I didn't get in at a lower level, I personally wouldn't be buying right now. Too much in the weeds.

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